Activist hedge fund Elliott Investment Management has built a significant stake in Global Payments, just weeks after the fintech giant announced its $24.3bn acquisition of Worldpay, according to a report by the Financial Times citing an unnamed source familiar with the matter.
While the exact size of Elliott’s stake and its strategic intentions remain undisclosed, the move signals renewed activist interest in Global Payments (NYSE: GPN) as it pivots toward a focused merchant payments strategy.
The company’s stock surged 5.4% in after-hours trading following news of Elliott’s involvement, with the investment coming amid investor scepticism following the April deal, which initially triggered a 20% drop in Global Payments’ share price to a 10-year low. Shares have since partially rebounded, with the company now valued at approximately $19bn.
The complex transaction saw Global Payments acquire Worldpay from FIS and private equity firm GTCR, while divesting its issuer solutions unit back to FIS — marking a strategic shift to double down on merchant acquiring services.
The deal, which did not require a shareholder vote, limits Elliott’s ability to challenge it directly but opens the door for future engagement on governance, capital allocation, or operational efficiency.
Elliott, which manages roughly $73 billion in assets, has been highly active in 2025, securing board seats at companies including Charles River and Phillips 66.
Global Payments and Elliott both declined to comment on the development.
